Cabinet approval has been given for an initiative viz the Enterprise Innovation Scheme from 2018- 2022 that will soon get underway with the collaboration of the Export Development Board (EDB). This will change the landscape of exports in the country, said the Minister of Development Strategies and International Trade, Malik Samarawickrema at a media briefing [...]

New policy to transform export landscape

By Jayampathy Jayasinghe

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Cabinet approval has been given for an initiative viz the Enterprise Innovation Scheme from 2018- 2022 that will soon get underway with the collaboration of the Export Development Board (EDB). This will change the landscape of exports in the country, said the Minister of Development Strategies and International Trade, Malik Samarawickrema at a media briefing held at the EDB in Colombo this week.

The Minister said the Board of Investment (BOI) is presently negotiating with foreign companies to set up a rubber and a steel oriented industry to promote exports. “We have taken a lot of initiatives to promote exports and more are in the pipeline for this year. Last year was a landmark for the export sector. Many countries such as Malaysia, Thailand and Vietnam have prospered by linking up with the outside world with an outward looking strategy by trading with them.”

The Minister said that there is a global demand for Sri Lankan high end brands and other primary products where entrepreneurs have been successful in promoting their brands. The government has recognised their efforts and shall help to promote their products. While congratulating exporters for their efforts he also cautioned them that they are navigating through difficult global trading conditions. “We need to focus on diversifying our product basket to enter new markets.” He said the export target for 2018 was US$17.4 billion that includes services as well.

Deputy Minister of Development Strategies and International Trade, Nalin Bandara said that it does not resonate well when speaking on the subject of Sri Lankan exports as there is no good track record on local exports. He said the EDB fared well in 2018 and is hopeful that 2019 year will be a fruitful one. He said the government has taken the initiative to identify 2000 entrepreneurs at a district level in the country. “We have already identified 500 entrepreneurs and shall provide them all assistance to develop their trade. The media has not given enough publicity to encourage entrepreneurs by not publishing articles on their success stories,” he said.

EDB Deputy Director General, Ms. Jeevani Siriwardena said that the EDB will carry out a project to develop high valued mushroom product for sausage and other sandwich paste. Meanwhile new sectors will be identified to develop herbal and cosmetic products. She said that there is a demand for organic products in the world and Sri Lanka is capable of supplying and growing such products to meet that demand. A data base will be set up by the EDB in 2019 to identify areas for growing organic foods and the farmers with the collaboration of the Department of Agriculture and the Department of Export Agriculture.

There is a demand for the manufacture of automobile components as well. The EDB has mapped out a programme in 2018 to develop 2000 new exporters by 2020. “During 2019 we hope to develop 200 entrepreneurs and convert them to become new exporters. We also want to develop 200 women entrepreneurs to become fully fledged new exporters,” she said.